Gold prices continued their downward trend on Tuesday, falling by ₹319 to settle at ₹1.20 lakh per 10 grams in the national capital. The decline comes as global spot prices softened due to investor caution and a strengthening US dollar.
According to the Delhi bullion market, the drop in domestic prices aligns with international trends, where gold slipped as traders awaited key economic data and central bank policy cues. Analysts say the pressure on gold was largely driven by reduced safe-haven demand and stronger yields on US Treasury bonds.
Silver prices also witnessed a mild correction, though the movement remained relatively stable compared to gold.
Market experts noted that despite the temporary dip, long-term sentiment for gold remains positive due to geopolitical uncertainties and expectations of future rate cuts. However, in the near term, volatility is likely to persist.
Jewellers reported a slight increase in customer enquiries following the price drop, indicating potential buying interest ahead of the wedding season.
With global cues mixed and currency fluctuations influencing local rates, traders advise investors to closely monitor the market before making fresh entries. Gold prices are expected to fluctuate further depending on international economic indicators and domestic demand patterns.
